CS EQUITY STRATEGY : 26.05.2021
* Credit Suisse cus metals to underweight from overweight, moves to cement. It has reversed the overweight on metals as P/B relative to market is near 10-year highs.
* Cut Metals To Underweight From Overweight, Move To Cement Reverse OW On Metals As P/B Relative To Market Is Near 10-year Highs
* Current Surge In Apparent Demand Is An Extreme Inventory Cycle & Not A Super-cycle
* Tata Steel's Profit Surge Is Iron-ore Driven
* With Alto-steel Price Ratio Near A Two-decade Low, Move To hindalco From Tata Steel
* Similar Trends Are Likely Driving Chemicals Too; Cos With Pricing Power Should Benefit
* Add Weigthage To Asian Paints & UltraTech Cement
* Stay Underweight On IT, But Cut HCL Tech & Switch Weights To TCS
* Cut Staples To Medium-weight; Cut Nestle & Add Smaller Weight To Marico
* Cut NBFCS Further; Bajaj Fin Weight Now Zero; Also Underweight Ins
CS EQUITY STRATEGY : 26.05.2021
